1/14/2008

Premier Group sells Tucson apartments

by Michael Wayne

Cornerstone Apartments

Vancouver, B.C.-based Premier Group has sold the Cornerstone Apartments in Tucson, Ariz., for $9.85 million to an investor group headed by Tony LaRuffa of San Clemente, Calif.

The deal was brokered by Art Wadlund of Hendricks & Partners' Tucson office.

The apartment community is situated on 6.8 acres at 3985 North Stone Ave. and contains 230 units. It was built in 1984 and is comprised of nine two-story buildings.

Wadlund recently brokered the $35 million sale of The Estate at Crossroads in Duluth, Ga., and the $15.9 million sale of the Metro Village Apartments in Phoenix.

Address: 3985 North Stone Ave., Tucson, Ariz.

Size: 230 units

Built: 1984

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Filed Under: Multi-Family

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